October 3, 2019 8:21 am Written by

What Would You Do With a Million Pounds?

Take a moment and think about the question, what would you do with a million pounds, £1,000,000.

Let your mind wander off into the land of being a millionaire, even if it is only one million.

Would you save the money?

Would you spend the money, and if so, on what?

Holidays, travel, property, a new house, car, boat, give some away to family and friends?

While a million pounds is a lot of money, and to many a huge sum of money, it may not go as far as you might think.

I know what you are thinking, “I’d make that money last me a long time, invest it, and it could last me a lifetime”.

And that is one possibility. You could invest the money, and if your investments paid off, you could make even more money.

That does sound nice, however, investments can be risky, you could lose money as well.

You may think £1,000,000 would go a long ways, but look at some average costs of some things and you may see it may not last as long as you might think.

If you wish to buy a property in London, it will cost you on average almost half of your one million pounds

Even in other parts of the country the average cost can be £200,000 or more, so almost a quarter of your million. However, you do own property now, it is an investment, and you have simply transformed cash into bricks and mortar.

With money, especially £1,000,000, comes a responsibility, and also for some a “curse”.

Curse of the Lottery

So in discussing what would you do with a million pounds, first we have to think, how did you come into the million pounds?

Did you earn it, maybe come up with some invention or idea worth a million pounds. There are those out there that came up with a unique way to do something that saves money, or invented some new tool or device and made millions.

Who would have thought of a selfie stick a few years back???

Naturally the way many of us think about getting rich is via the lottery; hitting the big one when our numbers come in.

Unfortunately, the odds of winning the lottery are slim, and I know, people do win and always will win the lottery, and it may be you…or even me.

There is a curse associated with winning the lottery, here in the UK and even in the USA.

Many people who win the lottery burn through their winnings very quickly, and some end up bankrupt, and worse off then before they won. Couples have even split up over lottery winnings.

As I said, with money comes a responsibility.

But for now, let’s just let our minds wander off and think what would we do with a million pounds….

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